View of Relationship between Auditor Reports and Earnings Quality of Companies Listed on The Stock Exchange of Thailand

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Relationship between Auditor Reports and Earnings Quality of Companies Listed on The Stock Exchange of Thailand

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Jureerat Bottares* Erboon Ekasingh²and Naruanard Sarapaivanich^$

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* Student, Master of Accountancy Program, Faculty of Business Administration, Chiang Mai University

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2 Lecturer, Department of Accounting, Faculty of Business Administration, Chiang Mai University

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3 Assistant Professor, Faculty of Business Administration, Chiang Mai University

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Abstract

The objective of this paper was to study the relationship between earnings quality and auditor reports of companies listed on the stock exchange of Thailand. In this paper, earnings quality as assessed by accruals quality in accordance with Francis et al. model was determined as independent variable, while auditor reports were determined as dependent variable. The analysis was based on financial statements of 425 companies, from 2012-2016, which were listed on the stock exchange of Thailand in 2015. The results showed that the auditors are more likely to issue modified opinion when the companies have low earnings quality. In addition, the results showed that the auditors are more likely to issue modified opinion when the companies have been audited by large audit firms (Big4).

Keywords

: Earnings Quality, Auditor Reports, Companies Listed on the Stock Exchange of Thailand

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(6)

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=8!

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567#-3(/9#/567#41489/`Non-Big 4z {567#41489/`Big 4z

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1-9#79"+ 47(6(1").!"."8+/4")/8 (*+(78Dependent Variable)

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!-)-!)3)+8+"(<(-34`Qualified Opinionz8+"(<"/

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(*+!78Independent Variable)

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"/)-t-1 )-t 1+1"0CFO_j_ǡ_t1387=8!

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(8)

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+0 ,4!++7-387()+/87"!¼oª¥

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(# 37378#,04")/`Dummy Variable)

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5"+ +"(8!= 7,-+"((,. "/!4567#+0 ,13 4'-8!98,! /)3!9),>>2558)<8-4

(# 37458(8!#= 41,-+"((,. "/!4567#

+0 ,134'-8!98,! /)3!9)2558

B S.E ݌-value Exp 8B)

(4 -5.044 1.634 0.002* 155.026

CACL -0.031 0.028 0.267 0.970

EBIT -0.146 0.137 0.287 0.865

%,* 0.948 0.282 0.001* 2.581

Constant -2.457 0.245 0.000* 0.086

(!1+080.05 (݌-value

-G,"/+0 ,13(EQ) :&-)<")4841#(BIG4)

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(12)

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Prob `!4567#-)-!)3)z ^ଵ

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=8!

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(-+0 ,134841#(+/,-(4& =-387!4567#- )-!)3),-(4& (3)87"! 387(8+"(((+"(#-9,!0 4(

8!= 7","/(-74& (+/Nagelkerke R Square/0.085 (!+"("/( ( .!+"(5)4")(387,!7!8.50 / :&-# 97<"/+0 ,13484 1#7"+"((,. !4567#!4& ")--3(/387/"&9&'+

7!91.50 !387"+"(#-9,!0 4(8!#= 41

=8!)!!+/,!0 `Predictedz47(6`Observedz:&-(.!3878

-47(64'-387!4567#-3(/)-!)3)1"362'(

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DeAngelo, L> E>(1981)>Auditor size and audit quality>Journal of Accounting and Economics, 3 `Decemberz, 183-199.

Francis, J>, & Krishnan, J>(1999)>Accounting accruals and auditor reporting conservatism>Contemporary Accounting Research, 16,135-165>

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Francis, J., LaFond, R., Olsson, P., & Schipper, K. (C). The market pricing of accruals quality. Journal of Accounting Economics, $`Gz, C-$£>

Marty, B., Leone, . J., & Michael, W. (2004). An empirical analysis of auditors reporting and its association with abnormal accruals. Journal of Accounting and Economics, 37, 139-165.

Mutchler. J. F. (1985). A multivariate analysis of the auditor’s going-concern opinion decision. Journal of Accounting Research, 23 `Autumnz, 668-682.

Richardson, S. (2003). Earning quality and short sellers. Journal of Accounting Harizons, 49-61.